As we journey through life, our
relationship with money naturally evolves. The wild ambition and hustle of
youth give way to more intentional conversations—about stability, security,
legacy, and peace of mind. For older adults in Nigeria and across the world,
the focus shifts from “How do I make more?” to “How do I make it last, protect
it, and pass it on?”
At Waized, we understand that
these aren’t just financial questions—they’re deeply personal ones. Here's a
heartfelt look at what matters most to our wise and experienced generation when
it comes to money, finance, business, and legacy.
1. Stretching the Naira: Financial
Peace in Retirement
For many retirees, the goal is
simple: Make the money last and make it count.
Common questions we see include:
- “How can I reduce my monthly spending now that
I’m on a fixed income?”
- “How do I manage my pension and still live
comfortably?”
- “Is there a smart way to budget for unforeseen
costs?”
From cutting down on unnecessary
subscriptions to embracing minimalist living, older adults are
finding practical ways to live well while spending less. And let’s not forget
about maximising benefits, whether it’s government pensions, private
annuities, or cooperative society dividends.
Waized Tip: Use simple
budgeting tools (yes, even a notebook works) to track your spending habits.
Awareness is the first step to peace of mind.
2. Protecting Wealth Without Taking
Big Risks
Gone are the days of “high risk, high
return.” Older adults today are more interested in preserving wealth than
chasing profits.
We get a lot of questions like:
- “Should I invest in gold, real estate, or
government bonds?”
- “How can I avoid losing money during economic
downturns?”
- “Are dividend stocks safe for me at this age?”
Low-risk investments like treasury
bills, mutual funds, bonds, and stable real estate are among the
most attractive options for this stage in life. For those who still want a
slice of the stock market, dividend-paying stocks offer regular income
with relatively lower risk.
Waized Reminder: Wealth isn’t
just about growing money. It’s about protecting what you’ve built.
3. Earning Again—But Differently This
Time
Retirement doesn’t always mean the
end of income. In fact, many older adults are starting businesses,
consulting, or turning hobbies into income streams.
We hear questions like:
- “Can I start a small poultry farm or retail shop
at 60?”
- “How do I turn my decades of work experience into
freelance income?”
- “Is it too late to open a franchise?”
The truth is, it’s never too late
to dream again. Whether it’s opening a catering business, offering coaching
services, or selling handcrafted items, many are proving that age is no barrier
to financial creativity.
Real Story: One of our
community members, a retired teacher, now earns steady income by tutoring
online and selling educational materials to schools. She says it keeps her
“mentally sharp and financially stable.”
4. Leaving a Legacy That Speaks
Louder Than Money
For older adults, legacy is about
impact, not just inheritance. That’s why estate planning is becoming a
vital conversation.
Some of the most common concerns we
hear include:
- “How do I write a will that protects my
children?”
- “What’s the difference between a will and a
trust?”
- “How can I pass on money to my grandchildren
without burdening them?”
Others are thinking beyond money.
They want to teach financial wisdom, instil values, and empower the
next generation.
Waized Advice: A will isn’t
just for the rich. It’s for anyone who wants to protect the people they
love.
5. Healthcare, Insurance &
Planning for the Unexpected
One of the biggest financial concerns
for older adults is healthcare—and rightly so.
We often get asked:
- “How can I prepare for medical costs as I age?”
- “Is health insurance worth it in Nigeria?”
- “How do I protect my home and assets from nursing
home or long-term care bills?”
Planning ahead with health
insurance, emergency funds, and long-term care options can go
a long way in maintaining independence and financial dignity.
Waized Tip: Explore
options like NHIS, private HMOs, or community health cooperatives. The
right plan can save you millions of Naira in unexpected costs.
6. Staying Safe in the Digital World
Scammers know that older adults often
have savings—and they’ve made this age group a prime target.
Some recent searches include:
- “How do I know if a message or email is a scam?”
- “What are the safest online banks or apps?”
- “What do I do if I’ve already given out my bank
details?”
Whether it’s fake investment
schemes, fraudulent calls, or tech scams, protecting your
information is now part of protecting your wealth.
Waized Safety Tip: Always
double-check financial messages and never share bank PINs or passwords—even
with someone who claims to be from your bank.
Age Brings Wisdom—And Opportunity
If you’re in your 50s, 60s, or
beyond, you’re not too late. In fact, you’re just right—because you have the
experience, the clarity, and the desire to make smart, lasting choices.
At Waized, we believe retirement
isn’t a finish line. It’s a new chapter. And we’re here to help you write
it—one wise decision at a time.
Let’s plan, protect, and prosper
together.
Book a free financial clarity session with Waized today!